The S&P 500 rose 0.4% on Friday (July 25), notching its fifth consecutive record close—its longest streak in more than a year—while the Nasdaq 100 gained 0.2% after hitting an intraday high. The Dow Jones Industrial Average gained 208 points as investors digested a wave of trade developments and corporate earnings. Optimism surrounding trade talks contributed to the rally, with President Trump scheduled to meet with European Commission President Ursula von der Leyen on Sunday amid hopes of a US-EU deal. Deals were also reached with Japan, Indonesia, and the Philippines ahead of the...
The Hang Seng Index rose 2.1% to 23,959.98 in Hong Kong, the biggest gain since a 3.3% gain on March 6 and following a 0.6% decline in the previous session. Meituan contributed the most to the index's gain, rising 5.4%. Wuxi Biologics Cayman Inc. was the biggest gainer, rising 14.4%. On the day, 65 of 83 stocks rose, while 18 fell; three of four sectors rose, led by trade and industrial stocks. Source: Bloomberg
The Hang Seng jumped 497 points, or 2.1%, to close at 23,960 on Friday, ending a five-session losing streak as U.S. index futures rose on signs of potential U.S. government shutdown resistance. Hopes for fresh stimulus to boost China's domestic consumption also supported sentiment, with investors eyeing a key briefing next week by Beijing's top planning agency. Adding to optimism, the northern Chinese city of Hohhot announced large cash incentives to boost births. However, the index fell 1.1% for the week, reversing earlier gains as caution prevailed ahead of key Chinese economic data due...
European markets are set to open higher on Friday, as U.S. President Donald Trump's tariff regime continues to be in focus. Talks centered on a ceasefire deal for Ukraine also remain in focus for regional traders. London's FTSE 100 is expected to open about 28 points higher at 8,567, according to IG, while Germany's DAX is set to rise 107 points to 22,639. France's CAC 40 is expected to open 26 points higher at 7,970, according to IG. Earlier this week, the EU announced it would retaliate against Trump's 25% tariffs on steel and aluminum with retaliatory measures on 26 billion euros ($28...
Japanese shares rose on Friday as the Bank of Japan is expected to hold rates in March, with most economists seeing a 25-basis-point hike to 0.75% in July. The Nikkei 225 rose 0.84%, or 310.82 points, to end at 37,100.85. A Reuters poll showed about 70% of economists expect the Bank of Japan to raise rates to 0.75% in the third quarter, likely in July, up from 65% in February. Nearly 90% foresee negative effects on Japan's economy from US President Donald Trump's tariff policies. Markets are pricing in a quarter-point hike by September or October, with a 25% chance of another increase by...
Hong Kong stocks rose on Friday, halting a five-day slump, as investors resumed buying tech companies on optimism advances in artificial intelligence (AI) will sustain a bull run this year. Port operator CK Hutchison plunged on concerns about its politically-charged asset sale. The Hang Seng Index increased 0.9 per cent to 23,677.68 as of 10am local time, following a 3.7 per cent loss over the preceding five trading days stoked by worries about trade wars. The Hang Seng Tech Index climbed 0.8 per cent while the Shanghai Composite Index gained 0.8 per cent. Alibaba Group Holding rose 2.9...